Bostina si Asociatii law firm banks on significant growth of revenues derived by its territorial offices as a result of the rising number of lawyers and the integration of these branches into the local structures, says Doru Bostina, the companyes managing partner.
"At present, less than 10% of the companyes revenues come from outside Bucharest. On medium term, we plan to strengthen the respective offices and connect them to the local market, to the local law activities and all business generators," stated Doru Bostina. At the same time, the firm will further expand its activities countrywide this year, by opening another four or five offices, with the domestic network to include a number of 15 branches.
The company last year reported turnover worth 10.16 million euros and targets 12 million euros this year. The increase is based on market growth, on the opening of territorial offices, as well as on the introduction of some new, customer-oriented, work practices.
"We will introduce private client services, after the banking model, targeting managers of large and medium-sized corporations, offering them personal advisory services. At the same time, we want to persuade the major companies to outsource their legal services, and have their lawyers join our firm," says Bostina.
Bostina si Asociatii currently has over 120 employees and collaborators, with a quarter of 2006 revenues being derived from litigations. In terms of their weight in overall revenues, the most dynamic domains for the company last year were privatisations (12%), communications (10.6%) and taxation (8.6%).
The domestic law market is put at over 100 million euros, but a large part of business is absorbed by a small number of firms, given that three of the biggest players on the market reported cumulated revenues of more than 30 million euros in 2006.
"In the next five years, a ewindow of opportunitye will open in Romania, and the market will grow to 300-400 million euros, a value it will stabilise at," considers Bostina, who wants the firm to reach a number of 200-250 employees in several years.
Demand for law services is rising domestically, in all domains, says Bostina, who considers the EU to be the main investor in Romania. Despite this, the domestic market is not really appealing to major law firms, which generally choose to enter partnerships with domestic firms for certain projects.
Bostina si Asociatii plans to expand its operations on international markets by taking over an office of three or four lawyers in Paris by August, and is also considering opening an office in Brussels, where it could serve customers having trouble with European financing. The company currently has three offices in Austria, Switzerland and Cyprus. The last two brought the firm cumulated revenues worth above one million euros.
Bostina si Asociatii
Relies on a significant increase in revenues derived by its territorial offices
Will further expand its operations countrywide, by opening another 4 or 5 offices, taking the domestic network to 15 branches
Last year reported turnover worth ?10.16m; targets 12m euros this year
Now has over 120 employees and collaborators
Wants to expand its business on international markets
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